Federated Hermes Plans First Onchain Fund Shares With Prometheum
Federated Hermes is working with Prometheum to offer blockchain-based fund share classes through traditional brokerage accounts.
Federated Hermes plans to introduce its first onchain fund shares through a partnership with Prometheum, according to CoinDesk.
The Pittsburgh-based asset manager, which oversees $911 billion, intends to make blockchain-based share classes of its funds available in traditional brokerage accounts.
The move adds Federated Hermes to the Wall Street firms pursuing tokenization, bringing blockchain-based offerings into established investment channels.
Source: CoinDesk
